Dollar holds near 10-month high as markets await central bank meetings amid Middle East war and higher oil prices
The Facts
- The dollar was trading near a 10-month high on Monday as markets began a week dominated by central bank meetings amid the U.S.-Israel war on Iran.
- At least eight central banks, including the U.S. Federal Reserve, the European Central Bank, the Bank of England and the Bank of Japan, are scheduled to meet this week to set interest rates.
- These central bank meetings are their first policy gatherings since the Middle East conflict began, according to the reports.
- Market attention is centered on how policymakers assess the impact of higher oil prices on inflation and economic growth.
- Oil prices were above $100 a barrel in early Monday trading, with Brent and U.S. crude both quoted above that level in the reports.
- The dollar index was slightly lower around 100.2–100.3 in Monday trading while remaining close to the prior week’s 10-month high.
Context
Which central banks are in focus this week?
Reports say at least eight central banks meet this week, including the U.S. Federal Reserve, the European Central Bank, the Bank of England and the Bank of Japan. Reuters,Economic Times
Why are oil prices central to this week’s market focus?
The coverage says policymakers and investors are watching whether higher oil prices will push inflation up and weigh on growth, a key consideration for upcoming rate decisions. Reuters,Zawya.com
What were oil prices doing at the start of the week?
Oil was trading above $100 a barrel in early Monday dealings, with Brent around $106 and U.S. WTI around $101 in the cited reports. Capital.fr,Europe 1
The receipts — 28 sources
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Independent coverage (24)
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